diff --git a/fs/xfs/libxfs/xfs_ag.c b/fs/xfs/libxfs/xfs_ag.c
index 5f0494702e0b55..652376aa52e990 100644
--- a/fs/xfs/libxfs/xfs_ag.c
+++ b/fs/xfs/libxfs/xfs_ag.c
@@ -296,27 +296,19 @@ xfs_free_unused_perag_range(
 int
 xfs_initialize_perag(
 	struct xfs_mount	*mp,
-	xfs_agnumber_t		agcount,
+	xfs_agnumber_t		old_agcount,
+	xfs_agnumber_t		new_agcount,
 	xfs_rfsblock_t		dblocks,
 	xfs_agnumber_t		*maxagi)
 {
 	struct xfs_perag	*pag;
 	xfs_agnumber_t		index;
-	xfs_agnumber_t		first_initialised = NULLAGNUMBER;
 	int			error;
 
-	/*
-	 * Walk the current per-ag tree so we don't try to initialise AGs
-	 * that already exist (growfs case). Allocate and insert all the
-	 * AGs we don't find ready for initialisation.
-	 */
-	for (index = 0; index < agcount; index++) {
-		pag = xfs_perag_get(mp, index);
-		if (pag) {
-			xfs_perag_put(pag);
-			continue;
-		}
+	if (old_agcount >= new_agcount)
+		return 0;
 
+	for (index = old_agcount; index < new_agcount; index++) {
 		pag = kzalloc(sizeof(*pag), GFP_KERNEL | __GFP_RETRY_MAYFAIL);
 		if (!pag) {
 			error = -ENOMEM;
@@ -353,21 +345,17 @@ xfs_initialize_perag(
 		/* Active ref owned by mount indicates AG is online. */
 		atomic_set(&pag->pag_active_ref, 1);
 
-		/* first new pag is fully initialized */
-		if (first_initialised == NULLAGNUMBER)
-			first_initialised = index;
-
 		/*
 		 * Pre-calculated geometry
 		 */
-		pag->block_count = __xfs_ag_block_count(mp, index, agcount,
+		pag->block_count = __xfs_ag_block_count(mp, index, new_agcount,
 				dblocks);
 		pag->min_block = XFS_AGFL_BLOCK(mp);
 		__xfs_agino_range(mp, pag->block_count, &pag->agino_min,
 				&pag->agino_max);
 	}
 
-	index = xfs_set_inode_alloc(mp, agcount);
+	index = xfs_set_inode_alloc(mp, new_agcount);
 
 	if (maxagi)
 		*maxagi = index;
@@ -381,8 +369,7 @@ xfs_initialize_perag(
 out_free_pag:
 	kfree(pag);
 out_unwind_new_pags:
-	/* unwind any prior newly initialized pags */
-	xfs_free_unused_perag_range(mp, first_initialised, agcount);
+	xfs_free_unused_perag_range(mp, old_agcount, index);
 	return error;
 }
 
diff --git a/fs/xfs/libxfs/xfs_ag.h b/fs/xfs/libxfs/xfs_ag.h
index d9cccd093b60e0..69fc31e7b84728 100644
--- a/fs/xfs/libxfs/xfs_ag.h
+++ b/fs/xfs/libxfs/xfs_ag.h
@@ -146,8 +146,9 @@ __XFS_AG_OPSTATE(agfl_needs_reset, AGFL_NEEDS_RESET)
 
 void xfs_free_unused_perag_range(struct xfs_mount *mp, xfs_agnumber_t agstart,
 			xfs_agnumber_t agend);
-int xfs_initialize_perag(struct xfs_mount *mp, xfs_agnumber_t agcount,
-			xfs_rfsblock_t dcount, xfs_agnumber_t *maxagi);
+int xfs_initialize_perag(struct xfs_mount *mp, xfs_agnumber_t old_agcount,
+		xfs_agnumber_t agcount, xfs_rfsblock_t dcount,
+		xfs_agnumber_t *maxagi);
 int xfs_initialize_perag_data(struct xfs_mount *mp, xfs_agnumber_t agno);
 void xfs_free_perag(struct xfs_mount *mp);
 
diff --git a/fs/xfs/xfs_fsops.c b/fs/xfs/xfs_fsops.c
index 3643cc843f6271..de2bf0594cb474 100644
--- a/fs/xfs/xfs_fsops.c
+++ b/fs/xfs/xfs_fsops.c
@@ -87,6 +87,7 @@ xfs_growfs_data_private(
 	struct xfs_mount	*mp,		/* mount point for filesystem */
 	struct xfs_growfs_data	*in)		/* growfs data input struct */
 {
+	xfs_agnumber_t		oagcount = mp->m_sb.sb_agcount;
 	struct xfs_buf		*bp;
 	int			error;
 	xfs_agnumber_t		nagcount;
@@ -94,7 +95,6 @@ xfs_growfs_data_private(
 	xfs_rfsblock_t		nb, nb_div, nb_mod;
 	int64_t			delta;
 	bool			lastag_extended = false;
-	xfs_agnumber_t		oagcount;
 	struct xfs_trans	*tp;
 	struct aghdr_init_data	id = {};
 	struct xfs_perag	*last_pag;
@@ -138,16 +138,14 @@ xfs_growfs_data_private(
 	if (delta == 0)
 		return 0;
 
-	oagcount = mp->m_sb.sb_agcount;
-	/* allocate the new per-ag structures */
-	if (nagcount > oagcount) {
-		error = xfs_initialize_perag(mp, nagcount, nb, &nagimax);
-		if (error)
-			return error;
-	} else if (nagcount < oagcount) {
-		/* TODO: shrinking the entire AGs hasn't yet completed */
+	/* TODO: shrinking the entire AGs hasn't yet completed */
+	if (nagcount < oagcount)
 		return -EINVAL;
-	}
+
+	/* allocate the new per-ag structures */
+	error = xfs_initialize_perag(mp, oagcount, nagcount, nb, &nagimax);
+	if (error)
+		return error;
 
 	if (delta > 0)
 		error = xfs_trans_alloc(mp, &M_RES(mp)->tr_growdata,
diff --git a/fs/xfs/xfs_log_recover.c b/fs/xfs/xfs_log_recover.c
index ec766b4bc8537b..6a165ca55da1a8 100644
--- a/fs/xfs/xfs_log_recover.c
+++ b/fs/xfs/xfs_log_recover.c
@@ -3346,6 +3346,7 @@ xlog_do_recover(
 	struct xfs_mount	*mp = log->l_mp;
 	struct xfs_buf		*bp = mp->m_sb_bp;
 	struct xfs_sb		*sbp = &mp->m_sb;
+	xfs_agnumber_t		old_agcount = sbp->sb_agcount;
 	int			error;
 
 	trace_xfs_log_recover(log, head_blk, tail_blk);
@@ -3393,8 +3394,8 @@ xlog_do_recover(
 	/* re-initialise in-core superblock and geometry structures */
 	mp->m_features |= xfs_sb_version_to_features(sbp);
 	xfs_reinit_percpu_counters(mp);
-	error = xfs_initialize_perag(mp, sbp->sb_agcount, sbp->sb_dblocks,
-			&mp->m_maxagi);
+	error = xfs_initialize_perag(mp, old_agcount, sbp->sb_agcount,
+			sbp->sb_dblocks, &mp->m_maxagi);
 	if (error) {
 		xfs_warn(mp, "Failed post-recovery per-ag init: %d", error);
 		return error;
diff --git a/fs/xfs/xfs_mount.c b/fs/xfs/xfs_mount.c
index 1fdd79c5bfa04e..6fa7239a4a01b6 100644
--- a/fs/xfs/xfs_mount.c
+++ b/fs/xfs/xfs_mount.c
@@ -810,8 +810,8 @@ xfs_mountfs(
 	/*
 	 * Allocate and initialize the per-ag data.
 	 */
-	error = xfs_initialize_perag(mp, sbp->sb_agcount, mp->m_sb.sb_dblocks,
-			&mp->m_maxagi);
+	error = xfs_initialize_perag(mp, 0, sbp->sb_agcount,
+			mp->m_sb.sb_dblocks, &mp->m_maxagi);
 	if (error) {
 		xfs_warn(mp, "Failed per-ag init: %d", error);
 		goto out_free_dir;
